Linseed Oil Market - Forecasts from 2024 to 2029

Linseed Oil Market - Forecasts from 2024 to 2029

The linseed oil market is evaluated at US$963.709 million for the year 2022 growing at a CAGR of 5.11% reaching the market size of US$1,366.226 million by the year 2029.

Linseed oil is an essential oil derived from flaxseeds that undergoes a solvent extraction process and is used in pharmaceuticals, cosmetics, food, and beverage, flooring, paint, and varnish industries. When this oil is blended with solvents or resins, it can polymerize into solid forms and act as an excellent impregnator. There is an increasing demand for effective polymer-forming materials due to the highly widespread use of tempering and catalyzed curing in manufacturing. Moreover, production investments and higher pharmaceutical research and development expenditures are also projected to drive market growth. Growing awareness about the health benefits of linseed oil has also been fueling market growth. As a result of these benefits, linseed oil is widely being used across the food, pharmaceutical, and cosmetic industries. In addition, with flaxseed's prominent insertion into energy bars, cereals, and crackers, its demand is expected to grow rapidly throughout the forecast period. An expansion of the industry will also be pushed due to the increasing demand for animal feed.

As far as application growth is concerned, painting and coatings will grow substantially. Increasing adoption of linseed oil into vehicles and buildings, as well as broader opportunities for application in paints & coatings, is also expected to broaden the opportunities for the key market players.

MARKET DRIVERS:

Increasing regulatory requirements and the boom in the nutraceutical sector

Linseed oil has gained increased popularity as consumers' nutritional intake has risen. With the rising prevalence of gallstones and heart disease and mounting concerns over cholesterol and blood pressure levels, there is a growing need for healthy food intake. Linette*®, a blend of wheat flour and specially prepared linseed flour is marketed and sold by LoveLinseed in the UK. In addition to replacing or supplementing wheat flour in cakes, bread, biscuits, desserts, and a variety of other uses, Linette*® provides an enhanced Omega-3 content. Omega 3 fatty acids are found in large quantities in flaxseed oil. Generally, Omega 3 fats are often missing from regular Indian diets, especially those that are vegetarian. Omega 3 is considered a good fat for heart, skin, and joint health. Natural Vitamin E (tocopherol) is included in BestSource Nutrition's Flaxseed oil capsules, so they are even more effective in assisting with heart, skin, and hair health. Such new launches have boosted the linseed oil market.

Increased usage in the cosmetic and beauty industry:

Since consumers are increasingly turning towards organic cosmetic products, linseed oil is becoming an effective substitute as it contains alpha-linolenic acid and vitamin E, two substances that are lacking in synthetic products. As a result of this, the adoption of linseed oil by the cosmetic industry has proliferated due to its combination of anti-inflammatory, wound healing, and regenerative properties. The increasing reliance on these products to drive market growth is expected to fuel the proliferation of the market. Linseed oil is commonly used in shampoos, moisturizers, and facemasks. The Moisture Miracle Collection from African Pride is one such example. Among the products in this collection were Shea Butter & Linseed Oil Moisturize & Define Curling Cream. In another example, St Botanica has introduced a purple shampoo and conditioner that is India's first in the field. GO Purple Shampoo - Purposefully formulated for blonde and bleached hair, it is composed of Linseed Oil, Purple Mica, and Sunflower Oil, which effectively preserves color-treated hair for many years to come. Such cosmetic product launches have boosted the market growth for linseed oil.

MARKET RESTRAINTS:

Synthetic paints and alkyd resins are becoming more readily available

The oil is generally a slow-drying liquid with enhanced properties of preservation and protection against water. Linseed oil can be used as a wood preservative however the longer drying time is a limitation when used on items handled or walked on, such as furniture or decks. Owing to the availability of synthetic paints for fast drying and enhanced protection of surfaces, as well as their low costs, alkyd resins have replaced linseed in some areas, thereby restricting market growth.

North America is anticipated to be the major regional market.

Several important elements together fuel the market's growth and demand for linseed oil in North America. One important factor driving this trend is growing consumer knowledge of the health advantages of linseed oil, which is positioned as a sought-after nutritional supplement due to its abundance of omega-3 fatty acids. Furthermore, the demand for linseed oil is being driven by its many uses in industrial sectors, including paints, coatings, and wood finishes, especially with the expansion of the furniture and building industries. The growing demand for bio-based and sustainable products, which is in line with the general trend towards eco-friendly options, also has an impact on the market. The trend towards health and wellbeing as well as continuing research into possible industrial uses contribute to the growing use of linseed oil in the region.

Key Developments:

In March 2023, ADM announced the Knwble GrwnTM brand launch, aimed at offering consumers sustainably produced, healthful plant-based food components. Small or underrepresented farmers use regenerative farming approaches to make Knwble Grwn goods, which contribute to environmental protection. The new brand is a good fit with ADM's existing green projects. Quinoa, hemp seed, flax oil, and hemp seed are all included in the queue.

Segmentation:

By Application
Processed Food
Paints and Coatings
Cosmetics
Pharmaceuticals
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
South Korea
Taiwan
Thailand
Indonesia
Japan
Others